Parents—Federal Direct Parent PLUS Loan *
The Federal Direct PLUS Loan for parents is available to help parents pay for their dependent child's education. Parents with no unresolved credit issues may borrow for each dependent child who is enrolled in school at least half time. Federal Direct PLUS Loans are not based on financial need, and parents of all income levels may apply. Parents may borrow an amount equal to the cost of attendance minus any other aid.
*Please note that Parent PLUS Loan information will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.
Parent Eligibility Requirements for a Federal Direct PLUS Loan
You must be the student's biological or adoptive parent or the student's stepparent, if the biological or adoptive parent has remarried at the time of application. Your child must be a dependent student who is enrolled at least half-time at a school that participates in the Direct Loan Program. For financial aid purposes, a student is considered "dependent" if he or she is under 24, unmarried, and has no legal dependents at the time the Free Application for Federal Student Aid is submitted. (Exceptions are made for veterans, wards of court, and other special circumstances.) If a student is considered dependent, then the income and the assets of the parent have to be reported on the FAFSA.
Additional Requirements to Receive a PLUS Loan
Parent PLUS loan borrowers cannot have an adverse credit history (a credit check will be done). If a parent borrower is denied, they will receive information from the Loan Coordinator on how to proceed at that time. In addition, parents and their dependent child must be U.S. citizens or eligible noncitizens, must not be in default on any federal education loans or owe an overpayment on a federal education grant, and must meet other general eligibility requirements for the Federal Student Aid programs. Parents can defer PLUS loan payments by request with their loan servicer. For enrollment verification please contact the Tennessee Tech Records and Registration Office.
You can find more information about Federal Direct PLUS Loans here.
To apply for a Federal Direct PLUS loan, print and complete the following:
- 2022/2023 Aid Year:
Once the Parent Plus Request Form has been completed and submitted to our office, the parent borrower must then complete an online Master Promissory Note (MPN) by visiting the https://studentaid.gov/ website and clicking on the "Complete Master Promissory Note" link. Please note that the parent who completes the Loan Application must be the same parent who completes the Master Promissory note and must use the Federal Student Aid Identification or PIN number (FSA ID) of the parent applying for the loan. You as the borrowing entity of the parent will need an FSA ID to sign in to this website (the same FSA ID you used to sign the student's FAFSA). If you have never applied for an FSA ID, go to https://studentaid.ed.gov/sa/fafsa/filling-out/fsaid to request one. It can take up to three business days to receive an active FSA ID. Once you receive your FSA ID, you will then use it to sign-in to https://studentaid.gov/ to complete the Master Promissory Note (MPN).
Each year you accept a new Parent PLUS Loan, it is recommended that you complete the Annual Student Loan Acknowledgment. You will be acknowledging that you understand your responsibility to repay your loan. If you have existing federal Parent PLUS Loans, you will be acknowledging that you understand how much you owe and how much you are eligible to borrow. You will also see other federal student aid information, including the interest rates and repayment options to make managing your loans easier.
ASLA web site: https://studentaid.gov/asla/